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Skye Bioscience
(NASDAQ:SKYE)
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Rating:42Neutral
Price Target:
$0.68
▼(-13.92% Downside)
Action:Reiterated
Date:06/24/26
The score is weighed down primarily by weak financial performance (no revenue, large losses, and heavy cash burn with a diminished equity base), reinforced by bearish technicals (below major moving averages and negative MACD). Valuation metrics are not supportive due to negative earnings, and recent corporate events add listing-compliance and potential dilution risk.
Positive Factors
Low leverage
The company’s minimal debt and ~0.01 debt-to-equity materially reduce interest and refinancing pressure, preserving financing optionality. Over 2–6 months this lowers bankruptcy risk and gives management time to pursue financing or partnerships without heavy fixed-charge constraints.
Negative Factors
No revenue; heavy cash burn
Sustained zero revenue with large TTM losses and roughly -$42M free cash flow implies continued reliance on external financing. Over months this depletes liquidity, constrains R&D runway absent fundraising, and increases execution risk if capital markets tighten or dilution becomes necessary.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
The company’s minimal debt and ~0.01 debt-to-equity materially reduce interest and refinancing pressure, preserving financing optionality. Over 2–6 months this lowers bankruptcy risk and gives management time to pursue financing or partnerships without heavy fixed-charge constraints.
Read all positive factors
Skye Bioscience (SKYE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$23.89M
Dividend YieldN/A
Average Volume (3M)182.32K
Price to Earnings (P/E)―
Beta (1Y)3.20
Revenue GrowthN/A
EPS Growth-74.39%
CountryUS
Employees12
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.44
Shares Outstanding35,143,723
10 Day Avg. Volume173,215
30 Day Avg. Volume182,318
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.48
Price to Sales (P/S)0.00
P/FCF Ratio-0.69
Enterprise Value/Market Cap0.72
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-99.30
Enterprise Value/Ebitda-0.30
Forecast
1Y Price Target
$13.00Price Target Upside1545.57% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.97
Revenue Forecast (FY)N/A
Skye Bioscience Business Overview & Revenue Model
Company Description
Skye Bioscience, Inc., a clinical-stage biotechnology company, focuses on developing molecules that modulate G-protein-coupled receptors (GPCRs) to treat obesity, overweight, and metabolic diseases. Its lead product candidate is nimacimab, a perip...
How the Company Makes Money
null...
Skye Bioscience Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 07, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong financial health and promising Phase 2a study results highlighting the potential of Nimazumab in combination with semaglutide. However, increased R&D expenses, a larger net loss, concerns about monotherapy efficacy, and limited study enrollment were notable challenges.Positive Updates
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Negative Updates
Increased R&D Expenses
R&D expenses for Q3 2025 increased to $9.4 million from $4.9 million in Q3 2024, primarily due to contract manufacturing and clinical trial costs.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Financial Position
Skye Bioscience ended the third quarter with cash and cash equivalents totaling $35.3 million, which is expected to fund operations and key clinical milestones into 2027.
Read all positive updates
Company Guidance
In the Skye Bioscience, Inc. third-quarter 2025 earnings call, the company provided detailed guidance on its financial and clinical development milestones. Key financial highlights included ending the quarter with $35.3 million in cash and equivalents, with expectations to fund operations into 2027. R&D expenses increased to $9.4 million from $4.9 million in the previous year due to ongoing clinical trials, including those for Nolasimab and Nimazumab. Notably, the company reported a net loss of $12.8 million, attributed partly to non-cash share-based compensation expenses. Clinical updates focused on the promising results from the Phase 2a CBEYOND study, showing a 3% additional weight loss with Nimazumab plus semaglutide compared to semaglutide alone, with a significant p-value of 0.0372. The study also demonstrated improvements in lean to fat mass ratio and reduced waist circumference, with retention strong in the extension study. The company is advancing Nimazumab's dose concentration strategy and plans to evaluate higher doses in future studies, keeping scalability and patient convenience in focus.Skye Bioscience Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
38
Negative
Cash Flow
7
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -172.89K | -723.35K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -56.61M | -55.20M | -25.29M | -36.62M | -18.70M | -7.72M |
| Net Income | -57.33M | -55.92M | -26.57M | -37.64M | -19.48M | -8.52M |
Balance Sheet | ||||||
| Total Assets | 19.42M | 28.31M | 72.76M | 11.94M | 9.11M | 9.86M |
| Cash, Cash Equivalents and Short-Term Investments | 17.11M | 25.74M | 68.42M | 1.26M | 1.24M | 8.98M |
| Total Debt | 311.32K | 273.65K | 455.59K | 4.62M | 1.98M | 2.14M |
| Total Liabilities | 10.40M | 8.29M | 4.61M | 14.07M | 12.12M | 3.99M |
| Stockholders Equity | 9.01M | 20.02M | 68.15M | -2.13M | -3.01M | 5.86M |
Cash Flow | ||||||
| Free Cash Flow | -42.43M | -43.07M | -26.84M | -13.96M | -12.77M | -6.57M |
| Operating Cash Flow | -42.43M | -43.06M | -25.24M | -13.95M | -12.74M | -6.47M |
| Investing Cash Flow | 4.20M | -19.50M | -245.62K | 6.60M | 5.21M | -90.87K |
| Financing Cash Flow | -41.95K | 29.57K | 83.56M | 16.44M | -208.79K | 13.08M |
Skye Bioscience Technical Analysis
Negative
0.79
Price Trends
0.80
Negative
0.76
Negative
1.25
Negative
Market Momentum
-0.03
Positive
40.53
Neutral
13.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SKYE, the sentiment is Negative. The current price of 0.79 is above the 20-day moving average (MA) of 0.74, below the 50-day MA of 0.80, and below the 200-day MA of 1.25, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 40.53 is Neutral, neither overbought nor oversold. The STOCH value of 13.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SKYE.
Skye Bioscience Risk Analysis
Skye Bioscience disclosed 82 risk factors in its most recent earnings report. Skye Bioscience reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Skye Bioscience Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $38.55M | ― | -170.86% | ― | -100.00% | 13.12% | |
52 Neutral | $49.25M | -2.81 | -0.97% | ― | ― | 21.67% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $273.85M | -1.24 | 178.08% | ― | ― | ― | |
47 Neutral | $40.45M | -0.21 | 75.79% | ― | -63.28% | 54.23% | |
42 Neutral | $23.89M | -0.47 | -217.27% | ― | ― | -74.39% | |
42 Neutral | $31.06M | -1.32 | -218.67% | ― | ― | 48.96% |
* Healthcare Sector Average
SKYE
Skye Bioscience
0.69
-3.05
-81.47%
ATNM
Actinium Pharmaceuticals
0.98
-0.37
-27.41%
OTLK
Outlook Therapeutics
1.59
0.01
0.63%
BTAI
Bioxcel Therapeutics
1.41
-0.56
-28.43%
INMB
Inmune Bio
1.63
-0.46
-22.01%
LTRN
Lantern Pharma
4.17
1.02
32.38%
Skye Bioscience Corporate Events
Delistings and Listing ChangesFinancial DisclosuresRegulatory Filings and Compliance
Skye Bioscience Moves Listing to Nasdaq Capital Market
Negative
Jun 23, 2026
On June 18, 2026, Skye Bioscience received approval from Nasdaq staff to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective June 23, 2026, after its March 31, 2026 quarterly report showed stockholders’...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Skye Bioscience Expands Authorized Shares After Shareholder Approval
Positive
May 29, 2026
On May 28, 2026, Skye Bioscience, Inc. amended its Articles of Incorporation to increase its authorized common stock from 100,000,000 to 300,000,000 shares, a move that did not change the currently issued and outstanding shares but expanded the co...
Delistings and Listing ChangesRegulatory Filings and Compliance
Skye Bioscience Faces Nasdaq Compliance Risk Over Equity
Negative
May 15, 2026
On May 13, 2026, Skye Bioscience disclosed that Nasdaq notified the company it was out of compliance with the Nasdaq Global Market’s minimum $10 million stockholders’ equity requirement, after reporting $9,011,804 in equity as of March...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.